place the cherries, sugar and 2 T. water in sauce pan. bring to boil, then reduce heat and simmer, stirring often, until the cherries break down and liquid turns into thick sryup, 10 to 12 minutes. transfer to bowl and refrigerate till cool, 15 minutes.

Using mixer, beat cream, condensed milk and vanilla in large bowl, on high until stiff peaks form, 3 to 4 minutes on high.

Spoon half the cream mixture into a loaf pan freezer safe container. Spoon half the cherry mixture through the cream, swirl the cherry mixture through the cream. Repaet the remaining cream and cherry mixture. Freeze until set, at least 4 hours. Once set, cover with plastic wrap and freeze for up to two weeks